Large-Scale Manufacturing Output Contracts 4% in October

The Large Scale Manufacturing Industries (LSMI) output decreased by 4.08 percent for October 2023 when compared with October 2022 and 2 percent when compared with September 2023, says the Pakistan Bureau of Statistics (PBS). The LSMI output decreased by 0.44 percent during the first four months (July-October) of the current fiscal year (FY24) when compared with the same period of last year (FY23). According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for October 2023 is 111.06. QIM estimated for July-October 2023-24 is 112.33. The provisional quantum indices of LSMI for October 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies. The main contributors towards overall growth of -0.44 percent are, Food (0.61), Tobacco (-0.75), Textile (-3.12) Garments (3.98), Paper & Board (-0.10), Petroleum Products (0.49), Chemicals (0.22), Pharmaceuticals (1.66), Cement (0.42), Iron & Steel Products (-0.10), Electrical Equipment (-0.50), Automobiles (-1.51) and Furniture (-1.84). The production in July-October 2023-24 as compared to July-October 2022-23 has increased in Food, Beverages, Wearing apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Non Metallic Mineral Products, Machinery and Equipment and Other Manufacturing (Football) while it decreased in Tobacco, Textile, Iron & Steel Products, Electrical Equipment, Automobiles, Other Transport Equipment and Furniture. The sectors showing growth during July-October 2023-24 compared to July-October 2022-23 are; food (5.11 percent), beverages (0.25 percent), wearing apparel (26.52 percent), leather products (2.36 percent), coke and petroleum products (7.55 percent), chemicals (2.75 percent), chemicals products (-5.92 percent), fertilisers (8.91 percent), pharmaceuticals (37.37 percent), non-metallic mineral products (4.14 percent), fabricated metal (1.10 percent), machinery and equipment (48.21 percent), and other manufacturing (football) (12.46 percent). The sectors showing a decline during July-October 2023-24 compared to July-October 2022-23 are tobacco (38.01 percent), textile (15.47 percent), wood products (2.31 percent), paper & board (3.96 percent), iron and steel products (2.04 percent), computer, electronics and optical products (25.11 percent), electrical equipment (13.29 percent), automobiles (48.94 percent), other transport equipment (12.55 percent), and furniture (60.27 percent).